Retirement tax questions

Oh no.   You misunderstood.   There is no exemption from the early withdrawal penalty for money you took out of a 401k for a down payment.   That exception is only for a withdrawal from a traditional IRA for a down payment.   You are going to be subject to the 10% penalty and the ordinary tax.   Enter your 1099R on your tax return:

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**